StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - Business Managment

Only on StudentShare
Pages 2 (502 words)
Strategic ethics and social responsibility are two of the most important, yet perhaps most misunderstood concerns in the world of business today. By their very nature, these fields are controversial, and there is no universally accepted approach for solving their questions…

Extract of sample

In this way, we can examine applications in the business context, thus drawing conclusions about their roles in strategy.
Strategic ethics "comprises principles and standards that guide behaviour in the world of business" Ferrell and Fraedrich (2000:6). Social responsibility on the other hand is the obligation a business assumes toward society. Jennings (2003:6) defines these responsibilities as being economic, legal, ethical and philanthropic. A business' economic responsibilities are to produce goods and services that society needs and wants at a price that can perpetrate the business and satisfy its obligation to investors. The legal responsibilities are the laws that they must obey. Ethical responsibilities are defined as behaviours or activities that are expected of business by society but are not codified in law. Philanthropic responsibilities are those behaviours and activities that society desires and business values dictate.
Social responsibility then can be viewed as a contract with society, whereas business ethics involves carefully thought out rules of business organizational conduct that guide decision making. Business ethics relates to rules and principles that guide individual and work group decisions, whereas social responsibility concerns the effect of organizational decisions on society.
When a corporation's values and ethics support its strategy, the company's stability and success i ...
Download paper
Not exactly what you need?

Related papers

Channel Managment
In the contemporary world, people recognize the importance of working in a team. A team is a group of people that are brought together by a common task or responsibility. As there are different qualities present in different kinds of people, they are usually utilized to the maximum extent while working in a team. This is the reason there is much emphasis paid on working as a team; to incorporate…
8 pages (2008 words)
Business Resource and Managment
The analysis includes all the traditional and contemporary theories of motivation and leadership which includes the Maslow's Hierarchy and Goal Setting theory etc. this section considers all the variables; dependent and independent and see their impact on the performance of the organization. The book further discusses the change process and the process of negotiation and conflict. The book also…
12 pages (3012 words)
Business Report to managment on online entertainment
The special features will include a visually rich content, streaming video linkages to various features, flash and banner advertisements, additional benefits to members as emails on entertainment related activities including alerts on mobile, briefs on stars and music icons, gossip related news to achieve an emotional link up, games, quizzes and event markers. The company logo and motif is as…
20 pages (5020 words)
Technology managment vs. Traditional managment
Technological Management involves developing an understanding of technology and its impact on all areas of an industry, its members and their activities. Technological Management includes: goods and services; production processes; information and communications; transport and distribution; society, politics and economics. "Technology Management may be more appropriately characterized as a…
2 pages (502 words)
Operations Managment
Through the utilization of new technological applications, the said process of recruiting shall be given the most important development it is expected to take to cater to the needs of the growing number of applicants.…
8 pages (2008 words)